CMS Office of the Actuary projects modest health spending growth

From CMS press release: “Consistent with past years’ findings, a report today from the Centers for Medicare & Medicaid Services (CMS) Office of the Actuary found that U.S. health care spending growth over the next ten years will be modest in comparison to historical trends, with increased spending the result of an improving economy and more accessible and affordable health coverage. Low rates of health spending growth are anticipated to continue through 2013 in key areas such as hospital and drug spending. The study is currently available online and will be published in the October issue of the journal Health Affairs. The National Health Expenditure projections report, issued annually, contains estimates of spending for health care in the U.S. over the next decade by type of service and source of funding. As past years’ reports have found, this year’s report projected that health spending growth would rise in coming years from historically low levels due to more available and affordable care and an influx of baby boomers into the Medicare program with a greater need for health care as they age. The Actuary’s office also projected that rates of health care spending over the next decade in several major categories would be below their peak rates in the previous decade, including hospital and prescription drug spending, out-of-pocket spending, and Medicare spending.”